Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

PHILIPPINES
Taxation
August 14, 2007

Large taxpayers in focus
Philippine President Gloria Macapagal Arroyo on August 14 ordered the Bureau of Internal Revenue (BIR) to focus on the investigation of delinquent big taxpayers that deprive the government of billions of pesos in taxes.

Presiding over the command conference held at the BIR conference room in Quezon City, the President told officials, "I would like to concentrate our effort on the large taxpayers unit as they represent 62.5% of the (revenue) target." She also congratulated the bureau for meeting its target in July which has reached more than P55 billion ($1.2 billion).

President Arroyo also witnessed the presentation of two projects - Revenue Watch Dashboard and the LGU Revenue Assurance Program - envisioned to enhance revenue generation and at the same time clean up the databases of BIR and local government units.

The Revenue Watch Dashboard will allow the BIR to monitor the progress of collections at any given time. It could also identify areas with revenue leakages, returns with inconsistencies, unusual patterns of tax declarations, long-running and unresolved notices and audits and immediately take decisive actions based on accurate and relevant information.

The system also provides the concept of Actionable intelligence as it will immediately uncover sources of revenue opportunities for increased performance, the BIR explained.

On the other hand, the LGU Revenue Assurance reports inconsistent declarations by taxpayers to uncover revenue opportunities for both the BIR and the LGUs.

It also reports fictitious tax identification number (TIN) registrations and declarations, and uncovers non-filers and stop-filers.

President Arroyo said that based on the report of the BIR, there's a "potential P5.4 billion worth of cases" that could be filed. She also said the Revenue Watch Dash board could also be used at the BoC to further strengthen their revenue collection. PNA

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com